Motability shaves pricing as issuers gain clout

Motability Operations Group, the UK company that leases cars to disabled people and their carers, completed a successful bond sale on Monday that was the first dual currency issue in the European corporate market this year.

03 Feb 2012

The A2/A+ rated company raised 550m of short seven year debt and £300m of 15 year money. As usual, Motability used as bookrunners the four banks that are also its four shareholders  Barclays Capital, HSBC, Lloyds and Royal Bank of Scotland.